The Xeneta Weekly Ocean Container Shipping Market Update provides data and intelligence including the latest freight rate and capacity movements across global trades with supporting insight from Peter Sand, Xeneta Chief Analyst.
Xeneta analyst insight - Money on the table for shippers switching imports from US East Coast to US West Coast
Peter Sand, Xeneta Chief Analyst:
“Spot rates continue to tick up from Far East to US East Coast and US West Coast, but the most intriguing story is found in the spread between these two fronthaul trades because there is significant money at stake for shippers depending on which seaboard they choose to import into.
“Importing into the US East Coast is currently USD 3 334 per FEU (40ft container) more expensive than the US West Coast. Incredibly, this current spread between the trades is greater than the total cost of shipping one container into either coast before the start of the Middle East crisis on February 28 when spot rates stood at USD 1 879 per FEU into US West Coast and USD 2651 into US East Coast. (....)